Royal Mail Share Price Keeps Analysts Divided
Having opened at 440.60p on Monday morning, Royal Mail (RMG) shares quickly dropped to 435.00p before climbing back up again to 440.70p. The share price then remained relatively stable throughout the day until an hour before closing when it dropped sharply and closed the day at 436.90p.
Brokers remain fairly divided over Royal Mail shares. In their last assessment Berenberg assessed the shares as ‘Buy’ while Cantor Fitzgerald has assessed them as ‘Sell’. Credit Suisse assessed the shares as ‘Underperform’ last week while JP Morgan Gazenove has them as ‘Overweight’.
Investors seem to be leaning to the side of buy. During Monday’s trading 55.29% of Royal Mail shares that were traded were bought while 44.71% were sold. The Royal Mail has been in the news recently in regards to its plans to open temporary sorting offices to help with the Christmas rush which is likely to give the share price a short term boost.